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Posted On: 07/28/2022 10:36:14 AM
Post# of 124455
GDP fell 0.9% in the second quarter, the second straight decline and a strong recession signal
The U.S. economy contracted for the second straight quarter from April to June, the Bureau of Economic Analysis reported Thursday.
Pressured by surging inflation, rising interest rates and intensifying supply chain pressures, gross domestic product fell 0.9% for the period, following a 1.6% decline in the first quarter. The Dow Jones estimate was for a gain of 0.3%.
Video via @CNBC
https://twitter.com/i/events/1552634795137564673
The U.S. economy contracted for the second straight quarter from April to June, the Bureau of Economic Analysis reported Thursday.
Pressured by surging inflation, rising interest rates and intensifying supply chain pressures, gross domestic product fell 0.9% for the period, following a 1.6% decline in the first quarter. The Dow Jones estimate was for a gain of 0.3%.
Video via @CNBC
https://twitter.com/i/events/1552634795137564673
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